CIBC Aeroplan Visa Card Review

Editorial Note: DollarWise may earn a commission on sales made from partner links on this page.

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The CIBC Aeroplan Visa Card has earned a 4.43 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the CIBC Aeroplan Visa Card are fees and rewards.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the CIBC Aeroplan Visa Card the most important factors for scoring this card are its fees and rewards.

Rewards

With the CIBC Aeroplan Visa Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending $2,000 per month with the CIBC Aeroplan Visa Card would earn $385 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Our study investigating the value found that each dollar spent on the CIBC Aeroplan Visa Card is worth up to $0.02, depending on how you redeem.

This $385 in rewards value puts the CIBC Aeroplan Visa Card in the top 40% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the CIBC Aeroplan Visa Card earns $385 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

For an annual spend of $24,000, we estimated annual rewards value at up to $385.

That’s equivalent to a 1.60% return on spending.

The CIBC Aeroplan Visa Card has an annual fee of $0. After deducting this, we predicted net annual rewards of $385.

This puts it in the top 30% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The CIBC Aeroplan Visa Card has a $0 annual fee.

The average card charges $85. So, the CIBC Aeroplan Visa Card is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The CIBC Aeroplan Visa Card scored a 1.3 out of 5 for perks, putting it in the bottom 50% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of 19.99% and so the CIBC Aeroplan Visa Card charges 1% more than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the CIBC Aeroplan Visa Card with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 2.1 out of 5 for insurance.

It offers 4 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the CIBC Aeroplan Visa Card, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $15,000, while the average card requires $23,896.

This puts it in the top 30% of cards by the income required to qualify.

The CIBC Aeroplan Visa Card is a popular option for Canadian consumers who travel frequently and are looking to optimize their earning potential in the form of Aeroplan rewards. This review will outline the card’s earning structure, four major benefits, two drawbacks, and additional relevant information to help determine if it is the right credit card choice for your needs.

Earning potential with the card:

The CIBC Aeroplan Visa Card has a tiered rewards system focused on travel-related spending. Cardholders earn 1.5 Aeroplan points for every $1 spent on eligible gas, grocery, and Air Canada purchases (excluding Air Canada Vacations package). All other eligible purchases earn 1 Aeroplan point for every $1 spent.

The rewards earned can be redeemed for flights, vacation packages, and other travel experiences through the Aeroplan program.

Benefits

1. Welcome Bonus: The first major advantage of the CIBC Aeroplan Visa Card is the welcome bonus. New cardholders can earn up to 10,000 Aeroplan points after making their first purchase within the first four months of account opening. This bonus can help jump-start your rewards balance and contribute towards future travel.
2. Travel Insurance Coverage: The second major advantage of the card is its travel insurance coverage. Cardholders have access to travel benefits such as trip interruption and cancellation insurance, travel medical insurance, and car rental collision/loss damage waiver.
   
   These features provide extra peace of mind while traveling and can save money on standalone insurance.
3. No Foreign Transaction Fees: The third major advantage of the CIBC Aeroplan Visa Card is its no foreign transaction fees feature. Many credit cards charge a fee of approximately 2.5% for purchases made in foreign currencies, but with this card, those fees are waived, making international purchases more cost-effective.
4. Support for Mobile Wallets: The fourth major advantage is support for mobile wallets. The CIBC Aeroplan Visa Card can be connected to Apple Pay, Google Pay, and Samsung Pay, providing convenience through contactless payment options using a compatible device.

Drawbacks

1. Annual Fee: The most significant drawback of this card is the annual fee of $139, which may deter individuals who are not frequent travelers or do not spend enough on the bonus categories to offset the cost of the annual fee.
2. Lack of Flexibility in Rewards Redemption: The second significant drawback is the lack of flexibility in rewards redemption. Aeroplan points are primarily geared towards travel-related rewards, and while they offer several redemption options, those who prefer cashback credit cards may find this program too limiting.

Additional information:

Cardholders have exclusive access to special offers from Air Canada and its partners, as well as the ability to book flights with no seat restrictions or blackout dates as long as there is an available seat.

Additionally, the primary cardholder can earn a one-time Companion Pass after spending $25,000 on the card each year, allowing a companion to travel with them on a round-trip Air Canada-operated flight.

In summary, the CIBC Aeroplan Visa Card is an excellent choice for frequent travelers and those looking to maximize Aeroplan rewards. However, its constrained rewards structure and annual fee may not be suitable for all consumers.

Not the right fit? You could consider the CIBC US Dollar Aventura Gold Visa Card. Or, if you’re looking for other options check out the CIBC Aventura Gold Visa Card, and the CIBC Dividend Platinum Visa Card.

FAQ

Key benefits

• Competitive earn rate on eligible Aeroplan purchases
• Comprehensive travel insurance offerings including emergency medical, trip interruption, and baggage loss
• Tiered annual fees ranging from no-fee options up to premium cards with higher fees
• Welcome bonus points promotion for eligible new applicants
• Air Canada perks such as preferred pricing, complimentary checked bags, and priority airport services
• Collaborative partnership with Visa network for international acceptance
• Two card types available: Visa Infinite and Visa Infinite Privilege with varied benefits
• Bonus earn rate on selected categories, such as gas and groceries
• Rewards easily redeemable through Aeroplan’s online portal
• Access to Aeroplan’s vast partner network for additional point-earning opportunities